The London-based global financial technology firm Ebury has announced the acquisition of Prime Financial Markets, a financial services firm based in Johannesburg, South Africa. Prime Financial Markets, a registered financial services provider, specializes in providing financial market advice and intermediary services in the treasury and financial market space.

Establishing Local Presence in South Africa

The acquisition marks Ebury's entry into the African market, establishing a local office in South Africa. Ebury, known for its FX and payments specialization, offers financial solutions to assist SMEs and midcaps in international trade.

Juan Lobato, the Co-Founder and Co-CEO at Ebury, commented: “We’re delighted Prime Financial Markets are joining the Ebury family. Its complimentary suite of services is a natural fit with our global capabilities and the transaction enables us to establish a new geographic presence at the heart of Africa’s financial services market.”

“International expansion is key to our strategy and this acquisition further strengthens both our platform for growth and our ability to provide a market-leading service to clients.”

With over 1,700 employees operating in 38 offices across 23 countries and annual transaction volumes exceeding $27 billion, Ebury aims to strengthen its global presence through this strategic move.

Gert Delport, the Managing Director at Prime Financial Markets, commented: “Ebury’s global scale, innovative technology and bespoke customer service makes them a natural partner for our business. It is a hugely ambitious business and we look forward to achieving those lofty strategic goals together particularly in Africa, our geography of expertise.”

Ebury Scores Multi-Year Deal with PSV Eindhoven

Finance Magnates reported earlier that Ebury announced a multi-year partnership with the Dutch football club PSV Eindhoven, becoming the club's official fintech partner. The strategic deal extends Ebury's network in the Brainport technology region, offering international payments and cash management solutions to the club.

PSV, a football club with a rich history spanning over a century and a substantial presence on social media, sees the partnership as valuable for its growing network and the Brainport region. Ebury's expansion strategy is characterized by its ambition and sports sponsorships, as evidenced by prior partnerships with Fulham Football Club in England and another football club in France.